10/31/2008

HFF orchestrates sale of Two Riverway in Houston

by
Two Riverway Holdings, LLC, a subsidiary of Donerail Corp., has purchased the Two Riverway office building in the Galleria submarket of Houston, Texas from Coventry Fund X, Ltd.

Marty Hogan, Trent Agnew, Dan Miller and Robert Williamson of Holliday Fenoglio Fowler represented the seller in the deal.

Two Riverway is located on Post Oak and Woodway Drive and is situated on 27 acres. It is currently 92 percent occupied with 55 percent of the building being leased by Chicago Bridge & Iron and IBM.

"Two Riverway's location within the Galleria submarket provides strong barriers to entry due to the scarcity and high cost of available sites coupled with the current capital market environment," Miller said. "Since 1999, only two Class A buildings have been built in the Galleria submarket and both are owner occupied."

Address: Post Oak & Woodway Drive, Houston, Texas

Size: 369,479 square feet

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Filed Under: Office

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